No Agreement on Rolling Back Planned Tariffs as Part of Phase 1

Mixed signals are coming from both sides in the U.S. China Trade war. On Thursday, China agreed to roll back on planned tariffs. The US reacted Friday by announcing they have not yet agreed to roll back tariffs as part of the U.S. China trade deal.

This move comes as both sides work toward signing a ‘Phase One’ trade deal. A spokesman for China’s Ministry of Commerce said both sides were moving closer to an agreement. The spokesman stressed an agreement is conditioned by both sides removing “the same amount” of tariffs, at the same time. 

President Donald Trump’s announcement Friday contradicts a statement from China’s Commerce Ministry Thursday that tariff relief would be part of the first ‘Phase One’ trade agreement deal.